Coca-Cola (Ondo Tokenized Stock)
KOON
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
KOON is an Ondo Finance tokenized real-world asset (RWA) offering 1:1 economic exposure to The Coca-Cola Company (KO) shares on Ethereum and BNB Chain with dividend reinvestment. The asset benefits from Ondo's established tokenization platform and institutional infrastructure, backed by traditional corporate governance and custodial shareholding with no history of exploits, depegs, or security incidents. However, the token exhibits significant structural centralization, strict non-US jurisdictional restrictions, a very small holder base, and a complete absence of native community governance or crypto-native utility. With a relatively small market scale of ~$3M-$4.2M, the weighted average score is 5.4 out of 10 with no qualifying red-flag events detected.
Development Activity
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Community Support
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Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
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Security & Audits
Security history and audit status
About Coca-Cola (Ondo Tokenized Stock) (KOON)
KOON (Coca-Cola (Ondo Tokenized Stock)) is a real-world asset (RWA) token issued by Ondo Global Markets (BVI) Limited. The token is designed to provide 1:1 economic exposure to the equity of The Coca-Cola Company (NYSE: KO), operating on the Ethereum and BNB Smart Chain networks. KOON functions through a fully-backed mint-and-redeem mechanism where underlying shares are held by a custodian, incorporating automated dividend reinvestment and enabling around-the-clock on-chain price tracking of the underlying equity.
The token's circulating supply closely matches its total supply at approximately 43,600 to 45,000 tokens, representing a market capitalization of roughly $3 million to $4.2 million. KOON possesses no independent decentralized governance or voting rights associated with the underlying corporate shares; token-level administration is managed directly by Ondo, while broader platform governance is restricted to ONDO token holders. Due to its structure as a passive financial wrapper, KOON maintains a small holder base across its supported blockchains with no native community infrastructure.
KOON has no recorded history of smart contract exploits, security breaches, or depeg incidents, and documentation references an audit conducted by CertiK. However, the asset carries structural risks common to tokenized equities, including total reliance on Ondo's centralized issuance and custodial infrastructure, counterparty exposure, and categorical regulatory uncertainty surrounding tokenized securities. Additionally, the token is subject to geographic restrictions that limit access to non-U.S. participants, meaning it is not accessible or tradable on platforms in restricted jurisdictions.